procedure for making a will
Making a will is an important step towards protecting your family, managing your assets, and ensuring your wishes are followed after your death. Whether you own property, have children, or want to decide who receives your estate, professional legal guidance can help you prepare a will that reflects your circumstances.
If you are considering making a will in Perth, WA, working with experienced estate planning professionals can help you understand the legal requirements and avoid common mistakes. Here is what you should know before choosing a lawyer to prepare your will.
Why Hire a Lawyer to Make a Will in Perth?
Although some people prepare their own wills, professional assistance can be particularly valuable when you have property, dependants, business interests, or a complex family situation.
A will lawyer in Perth can help you document your wishes, identify potential issues, and understand the requirements for creating a legally valid will in Western Australia. A lawyer can also explain how your estate may be distributed and what steps can help reduce uncertainty for your beneficiaries.
When you hire a lawyer to write a will, you can receive guidance tailored to your assets, family circumstances, and long-term estate planning goals.
What Is the Procedure for Making a Will?
Understanding the procedure for making a will can make the process easier. While the exact steps depend on your circumstances, the process generally includes the following.
1. Gather Your Personal and Financial Information
Prepare details of your assets, liabilities, property, savings, investments, and other significant financial interests. Consider who you want to benefit from your estate and whether anyone may require additional support.
2. Decide Who Will Inherit Your Assets
Identify your intended beneficiaries and consider how your estate should be distributed. If you have children, you may also need to consider guardianship arrangements and how their inheritance will be managed.
3. Choose an Executor
An executor is responsible for administering your estate according to your will and the applicable law. Choosing a reliable person who can manage these responsibilities is an important part of estate planning.
4. Obtain Legal Advice and Prepare Your Will
A will preparation lawyer in Perth can help draft your will, explain relevant legal requirements, and identify issues that may need further consideration.
5. Sign and Witness the Will Correctly
A will must meet the applicable legal formalities to be valid. In Western Australia, the usual requirements include signing the will and having the signature witnessed by two witnesses present at the same time. Certain exceptions and court powers may apply, so obtain legal advice if your circumstances are unusual.
How Much Does It Cost to Make a Will in Perth?
The cost of making a will in Perth depends on the complexity of your estate, the type of will required, and the legal services involved. A straightforward will may cost less than a more complex estate plan involving trusts, business assets, multiple properties, or a blended family.
When comparing will preparation fees, ask what is included in the service, whether advice on related estate planning matters is covered, and whether future amendments will incur additional costs.
Choosing a lawyer based solely on price may not be the best approach. Consider the lawyer’s experience, the clarity of their advice, and whether the service addresses your needs.
How Can a Will Help Protect Your Children’s Inheritance?
For parents, preparing a will can provide greater clarity about how assets should be distributed and who should manage the estate. You can nominate an executor and consider appropriate arrangements for children who are under 18.
A testamentary trust will may be worth considering if you want to establish a trust through your will to manage inheritance for eligible beneficiaries. Depending on the structure and circumstances, it may provide greater control over how and when assets are distributed.
Families with complex circumstances may also benefit from will planning for blended families, particularly when balancing the interests of a current partner, children from previous relationships, and other beneficiaries.
When Should You Update Your Will?
Preparing a will is not necessarily a one-time task. Your estate planning arrangements may need review following significant life changes, including marriage, separation, divorce, the birth of a child, acquiring property, or changes in your financial circumstances.
If you are considering whether to update a will after marriage or change a will after divorce, seek legal advice about the rules that apply in Western Australia. Marriage and divorce can affect a will differently, and the outcome may depend on the circumstances and any applicable exceptions.
Reviewing your will periodically can help ensure it continues to reflect your intentions.
What Happens If You Die Without a Will in WA?
If you die without a valid will, you are generally considered to have died intestate. Your estate will be distributed under Western Australia’s intestacy laws rather than according to your personal instructions.
This can create uncertainty for family members and may not produce the outcome you would have chosen. Preparing a will gives you an opportunity to record your wishes and nominate an executor, subject to applicable legal requirements.
Why Choose Estate Planning Lawyers in Perth WA?
An experienced estate planning lawyer can help you understand your options, prepare a will that reflects your wishes, and consider related estate planning matters.
If you need legal advice to make a will in Perth, professional assistance can help you navigate the process with greater confidence. Whether you need a straightforward will or more comprehensive planning, wills and estate lawyers can explain the relevant requirements and help you identify the appropriate next steps.
Contact Estate Planning Lawyers Perth WA to discuss your circumstances and learn more about preparing or updating your will.
Frequently Asked Questions
1. Do I need a lawyer to make a will in Perth?
You are not always required to hire a lawyer to prepare a will. However, a lawyer can help you understand legal requirements, address complex family or financial circumstances, and reduce the risk of drafting or execution errors.
2. How do I make a will in Australia?
Generally, you should identify your assets and beneficiaries, choose an executor, document your wishes, and ensure the will meets the legal formalities applicable in your state or territory. In Western Australia, obtaining legal advice can help you prepare and execute your will appropriately.
3. How long does it take to make a will?
The timeframe depends on the complexity of your circumstances, how quickly you provide the required information, and whether additional estate planning advice is needed. A straightforward will may be prepared more quickly than a complex estate plan.
4. What documents are needed to make a will?
You may need identification, details of your assets and liabilities, beneficiary information, your proposed executor’s details, and relevant property or business information. The documents required will depend on your circumstances.
5. Can I change my will after it has been signed?
Yes, a will can generally be changed or replaced, provided the applicable legal requirements are followed. It is important to use the correct process rather than making informal handwritten changes that may create uncertainty.
6. Is a testamentary trust necessary for every family?
No. A testamentary trust is not necessary for every estate. Its suitability depends on your family circumstances, financial objectives, intended beneficiaries, and the costs and responsibilities involved. Seek tailored legal advice before deciding whether to include one in your will.
